Rasna plans to set up Israel facility

Soft drink major Rasna Pvt Ltd today said it plans to set up a manufacturing facility in Israel by entering into a joint venture with a local partner.

"We are contemplating setting up a manufacturing base in Israel and have already started scouting for partners for our proposed venture," Piruz Khambatta, chairman and managing director, told PTI on the sidelines of a CII-organised interactive session with Israeli Deputy Prime Minister Eliyahu Yishai here.

Replying to a question, he said Rasna was in talks with "one to two" companies for the joint venture.

Khambatta, however, declined to divulge details about the proposed investment.

He said Israel was "very strong" in the technology suitable for agriculture and food processing sectors.

Rasna has two manufacturing plants overseas "" one each in Bangladesh and Dubai.

The company is also looking for potential collaborators for bringing value-added products to the global markets through technology transfers, licensing and marketing tie-ups.

Khambatta said his company which markets products in 40 countries across the globe, generated around 20 to 25 per cent of its revenue from overseas operations.

Currently, Rasna holds close to 93 per cent share in the soft drink concentrate market in India, Khambatta said.

To a question, he said the company's turnover was expected to cross the Rs 300 crore-mark this year compared to around Rs 250 crore last year.

The company, he said, is also set to launch some new flavours soon.